Job Information
City of New York Chief Credit Officer and Executive Director of Credit & Valuation, Office of Policy & Strategy in New York, New York
Job Description
About the Agency:
The New York City Department of Housing Preservation and Development (HPD) promotes quality and affordability in the city's housing, and diversity and strength in the city’s neighborhoods because every New Yorker deserves a safe, affordable place to live in a neighborhood they love.
We maintain building and resident safety and health
We create opportunities for New Yorkers through housing affordability
We engage New Yorkers to build and sustain neighborhood strength and diversity.
HPD is entrusted with fulfilling these objectives through the goals and strategies of “Housing Our Neighbors: A Blueprint for Housing and Homelessness,” Mayor Adams’ comprehensive housing framework. To support this important work, the administration has committed $5 billion in new capital funding, bringing the 10-year planned investment in housing to $22 billion the largest in the city’s history. This investment, coupled with a commitment to reduce administrative and regulatory barriers, is a multi-pronged strategy to tackle New York City’s complex housing crisis, by addressing homelessness and housing instability, promoting economic stability and mobility, increasing homeownership opportunities, improving health and safety, and increasing opportunities for equitable growth.__
HPD’s Office of Policy and Strategy (OPS) leverages its expertise to guide and support HPD and its many offices in their efforts to deepen their impact, optimize their efficiency, and become more data-driven, compliance-attentive, climate-adaptive, and mission-focused. To do so, OPS collaborates with staff and senior leadership from across the agency, as well as with representatives from other Agencies. OPS carries out its work through delivery of rigorous data, policy, and financial/credit analysis; technical and statistical research; compliance awareness and adherence; and techniques in program visioning and design to all of HPD’s areas of practice.
The Chief Credit Officer/Executive Director of Credit & Valuation (CCO) will report to the Deputy Commissioner for Policy & Strategy and will oversee the Credit & Special Underwriting (C&SU) team and Acquisition & Land Valuation (Appraisals) team. The C&SU team is responsible for reviewing and providing feedback on HPD projects that receive City Capital loans and/or discretionary tax exemptions, completing special underwriting feasibility and cost/benefit analyses and conducting complex financial analyses to support agency policy initiatives. The Appraisals team is responsible for completing appraisals to determine the value of City-owned land and development rights prior to disposition, and for reviewing external appraisals of privately-owned properties used in the development of affordable housing through HPD's various affordable housing programs. The CCO will work closely with team members from across OPS and the Office of Development (OOD) as well as engage with the agency’s senior leadership. They will work closely with the Deputy Commissioner on a daily basis in a rigorous, growth-oriented and supportive environment.
The CCO will:
Lead the C&SU and Appraisals teams, building and maintaining a culture of rigor, collaboration and inclusivity;
Serve as the HPD Credit Committee Chair, effectively and efficiently managing the process by which the agency evaluates non-conforming and complex affordable housing transactions and working with other members to problem solve, when necessary;
Serve as OPS’ senior advisor on real estate finance matters, providing advice and guidance to the Deputy Commissioner and other OPS and agency leadership to advance the agency’s mission;
Collaborate with other members of OPS on policy, sustainability and strategic operations & analytics on projects to advance the agency’s mission;
Lead complex financial modeling projects in support of internal and external policy projects;
Coordinate with OOD on and contribute to the development of new agency financing programs and policies;
Represent HPD externally in funding consortiums and inter-agency Credit Committees, or other special initiatives for the Agency or City;
Develop team policies and procedures to ensure the effective and efficient management of the team’s work;
Undertake critical special projects/initiatives as requested by the Deputy Commissioner, as needed.
Preferred Skills:
Very strong understanding of real estate finance, underwriting, lending, development, advanced finance concepts, valuation and the residential housing market, particularly the New York City context;
Knowledge of local, state and federal affordable housing finance programs;
Fluency in financial modeling including the ability to build and understand complex models and translate findings to a wide range of audiences;
Excellent verbal and written communication skills, including the ability to present/convey complex concepts effectively;
Exceptional leadership skills with the ability to build team culture, provide feedback and build capacity among individual team members;
Exceptional people skills with the ability to build relationships, influence others to achieve outcomes and thrive in a team environment;
Ability to adapt and work under pressure and restrictive deadlines, in an atmosphere of intense activity;
Passion for public service; and
An equity lens and deep commitment to radical inclusivity.
We serve New York City best, when our team mirrors the diversity and varied strengths of the population we serve. We strongly encourage people of all backgrounds to apply.
Note: This position is eligible for remote work up to two days per week, pursuant to the Remote Work Pilot Program agreed to between the City and DC37.
Qualifications
A baccalaureate degree from an accredited college and four years of experience in one or more of the following areas: community organization, social work, urban development projects, real estate, public administration, or a related field, of which two years must have been in a field directly related to neighborhood improvement such as housing, community organization, urban renewal or planning, or real estate. A Law Degree or graduate work in an appropriate field may be substituted for up to two years of the general experience required; or
Education and/or experience equivalent to "1", including part-time and/or volunteer experience.
Additional Information
The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.